If I do not have enough info please resond I'm going to be buying a building for 162k and the taxes are $3,500/yr Does anyone know base on the taxes per/year how much the building may be worth is a 7unit Thank you and God Bless
I agree...I wouldn't ever try to figure out the value of a property based on its taxes...especially since taxation is different from district to district, state to state...
I agree with all above: if possible, get a RE agent to pull a CMA (comparative market analysis) on your property to better determine market value.
Andy
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More info...
Assessors offices are notoriously bad at establishing market values. Do not assume anything about the value of a building based on the taxes.
I agree...I wouldn't ever try to figure out the value of a property based on its taxes...especially since taxation is different from district to district, state to state...
I agree with all above: if possible, get a RE agent to pull a CMA (comparative market analysis) on your property to better determine market value.
Andy
Thanks everyone for the info
Did you do a cash flow analysis? What sort of cash flow do you expect?